RG 26 Resignation, removal and replacement of auditors
Issued 18 June 2015
This is a guide for public companies, responsible entities of registered managed investment schemes, Australian financial services (AFS) licensees, credit licensees, and their appointed auditors.
It explains how we may exercise our power to:
- give consent to the resignation or removal of auditors under certain provisions of the Corporations Act 2001 (Corporations Act); and
- approve the resignation or replacement of auditors under certain provisions of the National Consumer Credit Protection Regulations 2010 (National Credit Regulations).
ASIC is in the process of updating RG 26 to:
- explain how we may exercise our powers to give consent to the resignation or removal of an auditor of a corporate collective investment vehicle (CCIV) or a registrable superannuation entity (RSE)
- remove the requirement in resignation applications for the audited body to make disclosure to its members as a condition of ASIC’s consent
- clarify which transactions can be completed through ASIC’s Regulatory Portal, and
- streamline the information that must be included in an application for ASIC’s consent.
We expect to publish the updated guide in September 2024.